Built In Chicago Releases the 2012 Digital Startup Report

Feb 07, 2013, 07:00 ET from Built In Chicago

CHICAGO, Feb. 7, 2013 /PRNewswire/ -- The most innovative minds in Chicago launched 197 digital startups in 2012, up from 193 launched in 2011. 59 companies secured funding of at least $1 million in 2012, an increase from 44 companies in 2011. [SEE INFOGRAPHIC]

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"2012 was another record setting year for digital technology companies in Chicago," said Matt Moog, Founder and CEO, Viewpoints (www.viewpoints.com) and Founder, Built In Chicago (www.builtinchicago.org). "The increasing importance of digital to Chicago's economy has been recognized by government, media, large corporations, major universities and investors from around the country.  With all of these stakeholders working together, we expect to see continued growth well into the future." 

Built In Chicago's 2012 Digital Startup Report confirms what Chicagoans have been thinking: Chicago's digital startup scene is erupting with growth.

"A new startup is launching every 44 hours in Chicago," said Maria Christopoulos Katris, CEO, Built In Chicago. "This is a direct result of an incredibly strong ecosystem dedicated to supporting digital technology companies."

The activity in Chicago has also attracted more than 50 investors from outside Chicago to invest in the city's digital startups in 2012. "Chicago has developed into a city that every investor must watch," said Mayor Rahm Emanuel. "Our economy is thriving and the companies we are producing are among the nation's leaders in many sectors, and this year's data proves it."

The largest growth in funding was in the healthcare technology sector, with 27% of the 2012 startup funding going to digital healthcare companies. GoHealth was the top recipient, raising more than $50 million to further develop its health insurance comparison site.

"We're only in the beginning of transformational changes to the healthcare industry," said Brandon Cruz, Co-Founder, GoHealth. " Our funding provides GoHealth the ability to accelerate hiring, further enhance our technology platform and position ourselves as a change agent for the industry."

2012 brought 27 exits, 26 acquisitions and 1 IPO, more than any previous year. Acquity Group was Chicago's one digital startup company to go public in 2012.

Built In Chicago is an online community for digital entrepreneurs and innovators, which has positioned Chicago as a leading center for digital technology innovation. With a 12,000+ registered members, Built In Chicago hosts a job board, publishes data on the digital tech sector and organizes monthly, quarterly and annual events.

Contact: Maria Christopoulos Katris (312.447.6119)

SOURCE Built In Chicago